The chart was converging and it has just broken out of the triangle with huge volume. It may reach targets of 189 with 45% from the current level i.e. 131.4. Has a resistance at 131.8 and you will get sufficient time to put the buy call. RSI: 56.53, 10d moving average is overtaking the 21d moving average. This is my personal analysis purely on the basis of charts...
VETO long at CMP / 119 SL 112. Target 10%-20% Time Frame 4-6 weeks.
It has consolidated for few months formed amazing symmetric triangle pattern and is all set for its move in upward or downward direction we can earn profits in either way. Keep eye on it. Wait for conformation after break out wait for retesting OR high volume breakout.
This is a public swing trade idea from "one right trade" and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help...
#optionsmagician #prathaminvestments Trendline Breakout, Consolidation and a Bullish Candle at the Support, is a Kind of Good Combination for the Stock to Move Higher. Resistance at 50 odd levels and support at 40 odd levels. Good Level to accumulate the Stock with a Small Stoploss and a Bigger Target.
Veto showing bullish divergence with strong volumes. Looks ready to make move. Only problem is no sellers yesterday as well as today.
Trade explained in chart Trade on your Own risk
Channel break out with decent volume.
target of 190 after breakout looks good with sl of 132